Global IoT Medical Devices Market Size study & Forecast, by Product Type (Wearable Medical Devices, Implantable Medical Devices, Stationary Medical Devices, Other Iot Medical Devices), By Application (Hospitals & Clinics, Nursing Homes, Assisted Living Fa

Global IoT Medical Devices Market Size study & Forecast, by Product Type (Wearable Medical Devices, Implantable Medical Devices, Stationary Medical Devices, Other Iot Medical Devices), By Application (Hospitals & Clinics, Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, Home Care Settings) and Regional Analysis, 2023-2030

Global IoT Medical Devices Market is valued at approximately USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% during the forecast period 2023-2030. IoT Medical Devices refer to medical equipment and devices that are equipped with connectivity features, allowing them to collect, transmit, and receive data through the Internet. These devices are part of the broader trend of incorporating IoT technology into various industries, including healthcare, to enhance efficiency, improve patient care, and enable remote monitoring. The IoT Medical Devices Market is expanding because of factors such as growing healthcare spending and the rising prevalence of cardiovascular disease. As a result, the demand for IoT Medical Devices has progressively increased in the international market during the forecast period 2023-2030.

The implementation of IoT technologies can lead to streamlined operations within healthcare institutions, reducing administrative costs and improving overall efficiency. According to Statista, in 2022, the United States allocated the largest proportion of its Gross Domestic Product (GDP) to healthcare spending, with expenditures reaching almost 16% of the nation's economic output. Another important factor that drives the IoT Medical Devices Market is the increasing prevalence of the cardiovascular disease. IoT devices can be used for preventive care by providing individuals with tools to monitor and manage risk factors associated with cardiovascular disease, such as physical activity, diet, and stress levels. In addition, in 2020, the American Heart Association revealed that in the United States, coronary heart disease was held accountable for the primary cause, responsible for 41.2% of CVD-related deaths, followed by stroke at 17.3%, other cardiovascular diseases at 16.8%, high blood pressure at 12.9%, heart failure at 9.2%, and diseases of the arteries at 2.6%. Moreover, government initiatives for promoting digital health and technological advancements in IoT Medical Devices are anticipated to create lucrative growth opportunities for the market over the forecast period. However, high costs associated with IoT Medical Devices and technical complexities are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global IoT Medical Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing healthcare expenditure and increasing presence of key market players such as Abbott Laboratories and GE Healthcare in the region. The region’s dominant performance is anticipated to propel the overall demand for IoT Medical Devices. Furthermore, Asia Pacific is expected to grow fastest over the forecast period, owing to factors such as growth in IoT medical devices and growing demand for smart wearables in the region.

Major market player included in this report are:
Medtronic plc (Ireland)
Koninklijke Philips N.V. (Netherlands)
Abbott Laboratories (US)
Advantus Health Partners (US)
GE Healthcare (US)
Boston Scientific Corporation (US)
Siemens Healthineers AG (Germany)
Johnson & Johnson Services, Inc (US)
Cisco Systems, Inc. (US)
Honeywell International Inc. (US)

Recent Developments in the Market:
 In August 2023, Schneider Electric, a prominent player in digital automation and energy management, introduced EcoStruxure for Healthcare, a cutting-edge Internet of Things (IoT) solution tailored to bolster the resilience of India's healthcare infrastructure. The primary aim is to transform the healthcare landscape by guaranteeing a seamless power supply to hospitals and healthcare providers. This initiative is in harmony with the objectives of the Ayushman Bharat Mission, which strives to create an extensive network of primary health centers nationwide, aiming to democratize healthcare and ensure uninterrupted and consistent care delivery.

Global IoT Medical Devices Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Product Type, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product Type
Wearable medical devices
Implantable medical devices
Stationary medical devices
Other IoT medical devices

By Application
Hospitals & clinics
Nursing homes
Assisted living facilities
Long-term care centers
Home care settings

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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